Because a whole slew of people out there seem to have severe memory loss and there are rumors that the not-so-Supercommittee is kicking around a hike in the capital gains tax, Americans for Tax Reform will go over this ONE. MORE. TIME.
The Congressional “Super Committee” is now in its final week of deliberations. Rumors are constantly swirling around Washington about what they are talking about. One rumor we have heard is that the Super Committee might consider hiking the capital gains tax rate paid by a wide range of investment partnerships, including partners and employees at private equity, venture capital and real estate firms. The Taxpayer Protection Pledge commits signers to “oppose any and all efforts to increase the marginal income tax rates for individuals and/or businesses.” This clearly precludes any hike in the capital gains tax rate.
• “I use that term specifically, ‘caved in.'” – Because that’s what Dems do, baby!
• Circa :54 – any use of the term ‘pernicious’ is welcome in our book; Some bald guy is shaking his head incessantly; Arianna Huffington looks like an amused heiress (which is what she always looks like).
• At 2:27 – Larry officially starts flipping out.
• “You are WRONG, sir.” – Grayson is already fanning the heat with his hands at this point.
• “When you’re out of office in January and watching this from the sidelines.” – Too soon!
• At 3:25 there’s an audible sigh by Grayson that gives us the impression he can’t keep from laughing.